Economy

Kenya now eyes UK talks on free trade in services

betty-maina

Ministry of Industrialization, Trade and Enterprise Development Cabinet Secretary Betty C. Maina speaking at the Crowne Plaza Hotel, JKIA on Monday, January 18, 2021. FILE PHOTO | NMG

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Summary

  • Industrialisation and Trade secretary Betty Maina said Nairobi would engage London with a view to facilitating seamless dealings in key services which include financial transactions as well as investment flows.
  • The two countries on Monday exchanged instruments of the UK-Kenya Economic Partnership Agreement (EPA), which was earlier in the month approved by respective parliaments, marking the official ratification of the pact.

Kenya has set its sights on fresh talks with the United Kingdom on free trade in services such as money transfers after the pact ensuring continuity in tax- and quota-free trade in goods was enforced yesterday.

Industrialisation and Trade secretary Betty Maina said Nairobi would engage London with a view to facilitating seamless dealings in key services which include financial transactions as well as investment flows.

The two countries on Monday exchanged instruments of the UK-Kenya Economic Partnership Agreement (EPA), which was earlier in the month approved by respective parliaments, marking the official ratification of the pact.

“The agreement we have signed is for trade in goods, but we look forward, as we indicated at the beginning of the negotiations, to also engage in other framework for trade in services, promotion of investments, and deepening economic and trade cooperation with United Kingdom,” Ms Maina said yesterday in Nairobi.

Kenya’s successful push will see free flow of services such as financial transactions, investments and data, mirroring similar post-Brexit deals signed with developed countries such as Japan.